What is the GENIUS Act? Crypto regulation bill clears key hurdle in Senate | World News
In a significant step toward formal oversight of the digital asset space, the US Senate advanced the GENIUS Act, a bill aimed at regulating stablecoins, following a 66–32 vote on Monday. The measure had initially stalled due to Democratic concerns about the Trump family’s alleged involvement in cryptocurrency ventures but gained renewed momentum after weeks of negotiations.If passed, the legislation would establish a first-of-its-kind federal framework for stablecoins, cryptocurrencies pegged to assets like the US dollar. Lawmakers say the bill balances consumer protection with innovation, despite political tensions and unresolved transparency concerns.
What are stablecoins referred in GENIUS Act
Stablecoins are a type of…
